November 1, 2024

Bloomberg Daybreak Asia. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia.
Live market coverage co-anchored from Hong Kong and New York. Overnight on Wall Street is daytime in Asia. Markets never sleep, and neither does Bloomberg. Track your investments 24 hours a day, around the clock from around the world.
Oil theft known as “bunkering” and the refining that comes with it are sickening and killing Nigerians living amid the pollution. It’s also creating one of the world’s most severe ecological disasters.
SPAC Winter Is So Bad One Adviser Opened a Liquidation Business
Air New Zealand Signals Worst is Over After Third Straight Loss
Salesforce Falls as Revenue Forecast Misses Analysts’ Estimates
Tesla, Nio Suspend EV Charging Services as China Power Cuts Bite
Amazon Plans to Shut Amazon Care Service Amid One Medical Overlap 
A New Minister Is Appointed Every Six Days in Castillo’s Peru
Biden’s Student-Loan Relief Adds New Wrinkle to Inflation Debate
‘I’ll Be Paying My Loans Until the End of Time’: Borrowers React to Student-Debt Relief
A 129-Foot Superyacht Worth Millions Sinks Off the Italian Coast
Our First Steps? Fossil May Boost Case for Earliest Ancestor
Jerry Allison, Drummer for Buddy Holly, Dead At 82
Good Luck Taking Away China’s Manufacturing Mojo
China’s Water Crisis Is Three Crises in One
Can Japan Learn to Love Nuclear Power Again?
The Future of Shipping Is … Sails?
Truth Social Has a Content Moderation Problem
Good Luck Finding a Seat in That Fancy Airport Lounge
Harvey Weinstein Granted Appeal of Sex-Trafficking Conviction
Female Board Representation in Australia Struggles to Crack 35%
Absence of Kobe Bryant Crash Photos Shows No Harm, LA County Attorney Says
Australia Could Power the World and Its Green Ambitions Could Change Everything
McDonald’s Nabs Pepsi Executive to Lead ESG Efforts
Former NYC Mayor Bill De Blasio Gets 477 Votes in a Race He Quit
White House Pledges ‘Stability’ Vouchers for Homeless and At-Risk People
Cities Funding Abortion Access Battle State Leaders Against It
Alameda Co-CEO Trabucco Steps Down From Crypto Trading Firm
Ethereum ‘Bug Bounties’ Jump to $1 Million Before Software Upgrade
Voyager Gets Bankruptcy Court Approval on $1.6 Million in Key Employee Bonuses
Shoddy governance, real-estate scams and surging land prices sow the seeds of trouble.
Waterside dwellings slated for demolition in Ho Chi Minh City’s race to develop.

One may earn a high salary, but only real estate can build up wealth — for decades, that’s been the Chinese mentality. Real estate accounts for roughly 70% of China’s household wealth, and as much as 30% of its economy. But China Evergrande Group’s debt blowup, with the tumbling home prices and mortgage boycotts that followed, have sent the economy into its deepest spin since the Cultural Revolution. The Chinese are having second thoughts. 
Evergrande’s spectacular fall should also serve as a warning to Vietnam. From the love of real estate, to the practice of pre-sales, to developers’ corporate governance, Vietnam shares too many similarities with China for comfort. 

source

About Author